The Covid-19 pandemic or Russia’s war in Ukraine has changed the situation “Economic security” is a priority for the European Union. Last June, the European Commission developed its first major strategy to protect the economy from actors such as Russia or China, and this Wednesday it took another step by adopting a set of five initiatives aimed at: Strengthening control over foreign investments List of countries that could pose a risk to the security of the EU and prevent European investments abroad from improving the military capacity or intelligence of actors that undermine international security.
“The EU is the most important player in world trade. Exports exceeding 3.1 billion euros and imports of 2.8 billion euros in goods and servicesBut at a time of such deep political tensions and such rapid technological changes, we must be realistic about the risks we face,” Commission vice president Valdis Dombrovkis said during a joint meeting with the vice president. Margrethe Vestager.
As last June, the plan does not mention specific countries, but the focus of the work remains the same: addressing the risks and vulnerabilities facing the EU through improved control over foreign investment; doubling export controls; identifying potential risks in certain foreign investments; encourage further research into military and civilian dual-use technologies; and strengthening research security at national and sectoral levels.
That is, closing the gaps in the system and “removing the deficiencies” based on the experience of recent years, based on the analysis of more than 1,200 foreign direct investment transactions reported by Yirmiyedi in the last three years. For example, Brussels thinks the control mechanism is working well, but revision of control arrangements to make things even better It focuses on higher-risk transactions – not all countries have implemented it – such as artificial intelligence, semiconductors, biotechnology or quantum, and extends surveillance to investments by EU investors controlled by individuals or companies from third countries.
Dual-use technologies
Brussels also thinks it is important to strengthen control of goods exports dual use, civil and militarysuch as advanced electronics, nuclear or missile technology, or toxins. “We do not want them to fall into the wrong hands and ultimately undermine global or EU security,” Domvrovskis said. Although the plan does not include legislative proposals, a white paper proposes short- and medium-term measures that would ensure uniformity of controls across the EU, particularly in the face of obstacles to certain countries, particularly Russia, from controlling certain products. .
Announcing that it will present a proposal next summer on the coordination of national checklists before the adoption of controls, the Commission claims that “This will avoid producing a mix of national approaches” and “a mix of control measures”. at the national level. However, the evaluation of EU dual-use regulation will not take place until 2025.
outgoing investments
Brussels is also focusing on strengthening oversight, particularly on foreign investment. Advanced technologies that can serve to enhance military and intelligence capabilities The number of actors who could turn against the EU and undermine global peace and security. Currently all this is not monitored or controlled at EU or Member State level.
The idea is to develop this area by creating a database containing information initially focused on a small number of sensitive technologies to identify where the risks lie. The analysis will include a three-month consultation and 12-month monitoring and evaluation of outgoing investments at the national level. Based on the outcome of the risk assessment, the Commission will decide whether measures and a new monitoring tool are necessary.